Business analyst Chika Mbonu has criticised Nigeria’s continued export of raw commodities, calling it a “big shame” that decades after independence, the country still ships unprocessed goods abroad.
Speaking in an interview with Arise News, Mbonu stressed that real economic growth comes from processing raw materials locally into high-value finished products.
Reacting to the Federal Government’s decision to extend the ban on the export of raw shea nuts, he said the policy highlights Nigeria’s failure to build industries capable of converting raw materials into finished goods.
“The value addition, when it’s done, will get more effects, at least 10 to 20 times more foreign exchange for a country that’s just exporting their raw materials,” Mbonu said.
He argued that local processing would not only boost foreign exchange earnings but also create employment opportunities and increase tax revenue.
Mbonu explained that the government’s policy intends to reduce incentives for exporting raw materials and encourage investment in local manufacturing plants—for example, transforming shea nuts into shea butter, which carries significantly higher economic value.
Mbonu’s remarks underline a persistent structural challenge in Nigeria’s economy: the reliance on exporting raw materials rather than developing domestic industries and value addition strategies for sustainable economic growth.
